There have not been any significant changes in the seamless pipe market of Saudi Arabia over the past two weeks. Import quotations have remained at previous levels, except for Chinese offers which have increased by $30/mt. Demand for seamless pipes in Saudi Arabia remains at a high level given the number of ongoing oil and gas projects in the country. The Arab world has the potential to help meet rising global demand for oil and gas and will continue to play a leading role in supplying the world with energy needs far into the future. However, sounding a note of caution, OPEC officials have warned that uncertainty and price volatility in the oil market have negatively impacted on the investment needed in the energy sector to boost production.
In particular, offers of Chinese seamless pipes 2"-6" grade B made to ASTM A106/API 5L are being given to the Saudi Arabian market at $930-980/mt C&F.
Quotations of Ukrainian seamless pipes (Interpipe) 2"-14" grade B made to ASTM A106/API 5L are at $1,100-1,150/mt C&F. Russian seamless pipes 8"-16" grade B as per ASTM A106/API 5L are being offered to the Saudi market at $1,280-1,300/mt C&F.
Romanian seamless pipes from ArcelorMittal 6"-10" grade B made to ASTM A106/API 5L are quoted at around $1,300-1,350/mt C&F Saudi Arabia. Quotations of 2"-6" seamless pipes from South Africa (ArcelorMittal) grade B as per API 5L are at about $1,100-1,150/mt C&F.
Quotations of seamless pipes to Saudi Arabia from Japan (Sumitomo) for 2"-6" grade B made to ASTM A106/API 5L are varying at about $1,400-1,450/mt C&F.